Accounting 3020 Summer 2018: Form 1040 Schedule A Itemized Deductions

This document presents a completed Schedule A (Form 1040) for the 2017 tax year, showcasing itemized deductions for Bob Jones. It includes calculations for medical and dental expenses, state and local taxes, home mortgage interest, charitable contributions, and other miscellaneous deductions. The form details various entries such as real estate taxes, personal property taxes, home mortgage interest reported on Form 1098, cash and non-cash charitable gifts, and tax preparation fees. The final calculation determines the total itemized deductions, which are then carried over to Form 1040. This example provides a practical illustration of how to complete Schedule A for individuals who choose to itemize their deductions instead of taking the standard deduction.

SCHEDULE A
(Form 1040)
Department of the Treasury
Internal Revenue Service (99)
Itemized Deductions
▶ Go to www.irs.gov/ScheduleA for instructions and the latest information.
▶ Attach to Form 1040.
Caution: If you are claiming a net qualified disaster loss on Form 4684, see the instructions for line 28.
OMB No. 1545-0074
2017Attachment
Sequence No.07
Name(s) shown on Form 1040 Your social security number
Medical
and
Dental
Expenses
Caution: Do not include expenses reimbursed or paid by others.
1 Medical and dental expenses (see instructions). . . . . 1
2 Enter amount from Form 1040, line 382
3 Multiply line 2 by 7.5% (0.075).. . . . . . . . . . . 3
4 Subtract line 3 from line 1. If line 3 is more than line 1, enter -0- .. . . . . . . 4
Taxes You
Paid
5 State and local (check only one box):
a Income taxes, or
b General sales taxes} . . . . . . . . . . . 5
6 Real estate taxes (see instructions). . . . . . . . . 6
7 Personal property taxes .. . . . . . . . . . . . 7
8 Other taxes. List type and amount▶
8
9 Add lines 5 through 8 .. . . . . . . . . . . . . . . . . . . . . 9
Interest
You Paid
Note:
Your mortgage
interest
deduction may
be limited (see
instructions).
10 Home mortgage interest and points reported to you on Form 109810
11 Home mortgage interest not reported to you on Form 1098. If paid
to the person from whom you bought the home, see instructions
and show that person’s name, identifying no., and address▶
11
12 Points not reported to you on Form 1098. See instructions for
special rules . . . . . . . . . . . . . . . . . 12
13 Mortgage insurance premiums (see instructions). . . . . 13
14 Investment interest. Attach Form 4952 if required. See instructions14
15 Add lines 10 through 14 .. . . . . . . . . . . . . . . . . . . . 15
Gifts to
Charity
16 Gifts by cash or check. If you made any gift of $250 or more,
see instructions .. . . . . . . . . . . . . . . 16
If you made a
gift and got a
benefit for it,
see instructions.
17 Other than by cash or check. If any gift of $250 or more, see
instructions. You must attach Form 8283 if over $500 .. . 17
18 Carryover from prior year. . . . . . . . . . . . 18
19 Add lines 16 through 18 .. . . . . . . . . . . . . . . . . . . . 19
Casualty and
Theft Losses
20 Casualty or theft loss(es) other than net qualified disaster losses. Attach Form 4684 and
enter the amount from line 18 of that form. See instructions. . . . . . . . . 20
Job Expenses
and Certain
Miscellaneous
Deductions
21 Unreimbursed employee expenses—job travel, union dues,
job education, etc. Attach Form 2106 or 2106-EZ if required.
See instructions.▶ 21
22 Tax preparation fees. . . . . . . . . . . . . 22
23 Other expenses—investment, safe deposit box, etc. List type
and amount▶
23
24 Add lines 21 through 23 .. . . . . . . . . . . 24
25 Enter amount from Form 1040, line 3825
26 Multiply line 25 by 2% (0.02). . . . . . . . . . 26
27 Subtract line 26 from line 24. If line 26 is more than line 24, enter -0-. . . . . . 27
Other
Miscellaneous
Deductions
28 Other—from list in instructions. List type and amount▶
28
Total
Itemized
Deductions
29 Is Form 1040, line 38, over $156,900?
No. Your deduction is not limited. Add the amounts in the far right column
for lines 4 through 28. Also, enter this amount on Form 1040, line 40.
} . .
Yes. Your deduction may be limited. See the Itemized Deductions
Worksheet in the instructions to figure the amount to enter.
29
30 If you elect to itemize deductions even though they are less than your standard
deduction, check here. . . . . . . . . . . . . . . . . . . ▶
For Paperwork Reduction Act Notice, see the Instructions for Form 1040. Cat. No. 17145C Schedule A (Form 1040) 2017
Bob Jones 512-60-4444
12000
247150
18536
0
✔ 13300
5200
1200
19700
7850
7850
11500
11500
1800
4500
6300
247150
4943
1357
✔
39050